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Global Microchannel Heat Exchanger Market

Published Aug 07, 2024
Length 181 Pages
SKU # NEXA20337514

Description

MARKET SCOPE:

The global Microchannel Heat Exchanger market is projected to grow significantly, registering a CAGR of 7.1% during the forecast period (2024 – 2032).

A microchannel heat exchanger (MCHE) is a type of heat exchanger that employs small channels or passages, typically with dimensions ranging from micrometers to millimeters, to facilitate efficient heat transfer between fluid streams. These heat exchangers are characterized by their compact design, high surface area-to-volume ratio, and enhanced heat transfer performance. Microchannel heat exchangers are used in various applications where space, weight, and energy efficiency are critical considerations. The compact nature of microchannel heat exchangers allows for efficient use of space. Industries where space constraints are a critical consideration, such as automotive and electronics, often demand compact heat exchangers to optimize the use of available space. Microchannel heat exchangers are known for their high heat transfer efficiency. This characteristic is particularly valuable in applications where energy efficiency is a priority, such as in HVAC systems, refrigeration, and renewable energy technologies. The lightweight construction of microchannel heat exchangers makes them suitable for applications where minimizing weight is crucial, such as in the aerospace industry and in electric vehicles. The high surface area-to-volume ratio in microchannel heat exchangers enhances their heat transfer capabilities. This makes them effective in applications where maximizing heat exchange within a confined space is important. In the automotive industry, microchannel heat exchangers are widely used for engine cooling, transmission cooling, and air conditioning. The demand in this sector has been influenced by the industry's emphasis on fuel efficiency and thermal management.

MARKET OVERVIEW:

Driver: Growing demand for HVAC and refrigeration systems is driving the market growth.

The HVAC (heating, ventilation, and air conditioning) industry is a major consumer of microchannel heat exchangers. The demand for energy-efficient and compact solutions in HVAC systems presents significant opportunities. The ongoing trend toward sustainable and green building technologies further contributes to the growth of this market. Microchannel heat exchangers are known for their high heat transfer efficiency due to their compact design and increased surface area. In HVAC systems, they contribute to improved energy efficiency by facilitating efficient heat exchange between different fluid streams. This efficiency is crucial in both heating and cooling processes. The compact nature of microchannel heat exchangers allows for a higher heat transfer surface area within a smaller physical footprint. This is particularly advantageous in HVAC applications where space constraints are a consideration, such as in residential and commercial buildings. Microchannel heat exchangers are used in both evaporators and condensers of air conditioning and refrigeration systems. In the evaporator, they absorb heat from indoor air, cooling it down, while in the condenser, they release heat to the outdoor environment. The efficient thermal transfer provided by microchannel designs contributes to the overall effectiveness of the HVAC system.

Opportunities: Rising need for automotive cooling solutions is expected to pave the way for the market growth in the upcoming years.

Microchannel heat exchangers are widely used in automotive applications for engine cooling, transmission cooling, and air conditioning systems. As the automotive industry continues to innovate and transition toward electric vehicles, the demand for efficient thermal management solutions, including microchannel heat exchangers, is expected to increase. Microchannel heat exchangers are employed in the cooling systems of traditional internal combustion engine vehicles. They help dissipate heat generated by the engine during combustion, ensuring that the engine operates within optimal temperature ranges. Efficient engine cooling is essential for maintaining engine performance and preventing overheating. In vehicles with automatic transmissions, microchannel heat exchangers are utilized for transmission fluid cooling. Maintaining proper operating temperatures in the transmission is crucial for ensuring smooth gear shifts and extending the life of transmission components. As the automotive industry transitions toward electric vehicles (EVs), microchannel heat exchangers become even more critical. Lithium-ion batteries used in electric vehicles generate heat during charging and discharging cycles. Microchannel heat exchangers are employed in the battery thermal management systems to regulate the temperature of the battery pack, optimizing performance and ensuring safety.

COVID IMPACT:

The microchannel heat exchanger industry, like many others, experienced disruptions in the supply chain. Lockdowns, travel restrictions, and production halts in various regions affected the availability of raw materials, components, and equipment needed for manufacturing. Many manufacturing facilities faced temporary closures or reduced capacity due to lockdowns, social distancing measures, and workforce shortages. This could have impacted the production of microchannel heat exchangers, leading to delays and supply chain challenges. The demand for certain applications of microchannel heat exchangers may have shifted due to changes in consumer behavior and economic conditions during the pandemic. For example, industries related to travel and hospitality may have experienced decreased demand, while sectors like healthcare and data centers may have seen increased demand. Research and development activities related to microchannel heat exchangers may have been affected by disruptions in laboratory work, delays in experiments, and challenges in collaboration. Some projects might have been put on hold or redirected towards addressing immediate pandemic-related concerns. The pandemic emphasized the importance of air quality and ventilation systems, especially in indoor spaces. This increased awareness may have influenced the demand for HVAC systems and, consequently, microchannel heat exchangers designed for efficient heat transfer in air conditioning and ventilation applications. The increase in remote work during the pandemic may have influenced the demand for data centers and related cooling solutions. Microchannel heat exchangers are often used in electronic cooling applications, and changes in data center requirements could impact the industry.

SEGMENTATION ANALYSIS:

The refrigerated transport segment is anticipated to grow significantly during the forecast period

Lithium-sulfur batteries, known for their high theoretical energy density, can potentially provide longer driving ranges for electric refrigerated transport vehicles. This is crucial for ensuring that temperature-sensitive goods can be transported over extended distances without frequent recharging. The lightweight nature of sulfur, a key component in lithium-sulfur batteries, can contribute to reducing the overall weight of the battery system. In refrigerated transport, where payload capacity is critical, minimizing the weight of the battery can be advantageous. Maintaining a stable temperature within refrigerated transport vehicles is crucial for preserving the quality and safety of perishable goods. Lithium-sulfur batteries, like other battery technologies, need effective thermal management systems to ensure optimal performance under various temperature conditions.

The Single Phase segment is anticipated to grow significantly during the forecast period

A single-phase microchannel heat exchanger refers to a heat exchanger design where a single fluid phase, such as a liquid or a gas, is involved in the heat transfer process. Microchannel heat exchangers are characterized by the use of small channels or passages, typically with dimensions on the order of micrometers to millimeters, to enhance heat transfer efficiency. These heat exchangers are commonly used in various applications where compact and efficient thermal management is essential. Single-phase microchannel heat exchangers find applications in both liquid-to-liquid and air-to-fluid heat exchange systems. They are used in various industries, including automotive, HVAC, electronics cooling, and renewable energy. In liquid cooling applications, single-phase microchannel heat exchangers are used for cooling electronic components, power electronics, and other systems where efficient heat dissipation is crucial. These applications often involve the circulation of a coolant or refrigerant through the microchannels.

REGIONAL ANALYSIS:

The Asia Pacific region is set to witness significant growth during the forecast period.

Microchannel heat exchangers are commonly used in air conditioning and refrigeration systems. The Asia Pacific region, with its high demand for cooling solutions in residential, commercial, and industrial sectors, sees significant applications for these heat exchangers. Microchannel heat exchangers are utilized in automotive applications, including the cooling systems of vehicles. The Asia Pacific region, being a major hub for the automotive industry, incorporates these heat exchangers in vehicles for efficient thermal management. With the increasing use of electronic devices and the demand for efficient cooling solutions, microchannel heat exchangers are employed for thermal management in electronic components. This is particularly relevant in countries with a thriving electronics manufacturing industry, such as South Korea, Japan, and China. Microchannel heat exchangers are used in various renewable energy systems, including solar thermal systems. As countries in the Asia Pacific region focus on sustainable energy solutions, there may be increased applications in these sectors. Industries in the Asia Pacific region that involve high-temperature processes, such as petrochemical and chemical industries, may use microchannel heat exchangers for efficient heat exchange and temperature control. The Asia Pacific region, facing rapid industrialization and urbanization, places a strong emphasis on energy efficiency. Microchannel heat exchangers, with their compact design and efficient heat transfer capabilities, align with the region's focus on sustainable and energy-efficient technologies.

COMPETITIVE ANALYSIS

The global Microchannel Heat Exchanger market is reasonably competitive with mergers, acquisitions, and Type launches. See some of the major key players in the market.

Danfoss

In 2021, A new range of microchannel heat exchangers for low-density alternative refrigerants has been introduced by Danfoss. By addressing a design challenge, the approach helps OEMs transition from higher GWP to reduced GWP refrigerants like R123ze and R515B.

Vacuum Process Engineering

The US Department of Energy (DOE) and Sandia National Laboratories announced a supply collaboration with Vacuum Processing Equipment, a manufacturer of microchannel heat exchangers, in May 2021. As part of this partnership, Vacuum Engineering Inc. developed the next generation of heat exchangers for concentrating solar thermal facilities.

Kaltra

Welcon

Shanghai Shenglin M&E Technology

Evapco

Climetel

Modine Manufacturing Company

Sanhua

Sumitomo Precision Products

Scope of the Report

By Type

Heat Pump

Chiller Air Handling Unit

Fan Coil Unit

Others

By Phase

Single Phase

Double Phase

By End - Use

HVACR

Food Processing

Refrigerated Transport

Power

Others

By Region

North America (the United States & Canada)

Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)

Asia Pacific (China, Japan, India, and Rest of Asia Pacific)

Rest of the World (the Middle East & Africa, and Latin America)

Keys reasons to purchasing this report

It provides a technological development map over time to understand the industry’s growth rate and indicates how the Microchannel Heat Exchanger market is evolving.

The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which Microchannel Heat Exchanger submarket will be the main driver of the overall market from 2024 to 2032.

It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032.

Table of Contents

181 Pages
1. Executive Summary
1.1. Market Snapshot
1.2. Regional Analysis
1.3. Segment Analysis
2. Overview And Scope
2.1. Market Vision
2.1.1. Market Definition
2.2. Market Segmentation
3. Global Microchannel Heat Exchanger Market Overview By Region: 2019 Vs 2023 Vs 2032
3.1. Global Microchannel Heat Exchanger Market Size By Regions (2019-2023) (Usd Million)
3.1.1. North America Microchannel Heat Exchanger Market Size By Country (2019-2023) (Usd Million)
3.1.2. Europe Microchannel Heat Exchanger Market Size By Country (2019-2023) (Usd Million)
3.1.3. Asia Pacific America Microchannel Heat Exchanger Market Size By Country (2019-2023) (Usd Million)
3.1.4. Rest Of The World Microchannel Heat Exchanger Market Size By Country (2019-2023) (Usd Million)
3.2. Global Microchannel Heat Exchanger Market Size By Regions (2024-2032) (Usd Million)
3.2.1. North America Microchannel Heat Exchanger Market Size By Country (2024-2032) (Usd Million)
3.2.2. Europe Microchannel Heat Exchanger Market Size By Country (2024-2032) (Usd Million)
3.2.3. Asia Pacific Microchannel Heat Exchanger Market Size By Country (2024-2032) (Usd Million)
3.2.4. Rest Of The World Microchannel Heat Exchanger Market Size By Country (2024-2032) (Usd Million)
4. Global Microchannel Heat Exchanger Market Dynamics
4.1. Market Overview
4.1.1. Market Drivers
4.1.2. Market Restraints/ Challenges Analysis
4.1.3. Market Opportunities
4.2. Pestle Analysis
4.3. Porter’s Five Forces Model
4.3.1. Bargaining Power Of Suppliers
4.3.2. Bargaining Power Of Buyers
4.3.3. The Threat Of New Entrants
4.3.4. Threat Of Substitutes
4.3.5. Intensity Of Rivalry
4.4. Value Chain Analysis/Supply Chain Analysis
4.5. Covid-19 Impact Analysis On Global Microchannel Heat Exchanger Market
** In – Depth Qualitative Analysis Will Be Provided In The Final Report Subject To Market
5. Global Microchannel Heat Exchanger Market, By Type
5.1. Overview
5.2. Global Microchannel Heat Exchanger Market Size By Type (2019 - 2032) (Usd Million)
5.3. Key Findings For Microchannel Heat Exchanger Market - By Type
5.3.1. Heat Pump
5.3.2. Chiller Air Handling Unit
5.3.3. Fan Coil Unit
5.3.4. Others
5.3.5. Global Microchannel Heat Exchanger Market, By Phase
5.4. Overview
5.5. Key Findings For Microchannel Heat Exchanger Market - By Phase
5.5.1. Single Phase
5.5.2. Double Phase
6. Global Microchannel Heat Exchanger Market, By End - Use
6.1. Overview
6.2. Key Findings For Microchannel Heat Exchanger Market - By End - Use
6.2.1. Hvacr
6.2.2. Food Processing
6.2.3. Refrigerated Transport
6.2.4. Power
6.2.5. Others
7. Global Microchannel Heat Exchanger Market, By Region
7.1. Overview
7.2. Key Findings For Microchannel Heat Exchanger Market- By Region
7.3. Global Microchannel Heat Exchanger Market, By Type
7.4. Global Microchannel Heat Exchanger Market, By Phase
7.5. Global Microchannel Heat Exchanger Market, By End - Use
8. Global Microchannel Heat Exchanger Market- North America
8.1. Overview
8.2. North America Microchannel Heat Exchanger Market Size (2019 - 2032) (Usd Million)
8.3. North America Microchannel Heat Exchanger Market, By Type
8.4. North America Microchannel Heat Exchanger Market, By Phase
8.5. North America Microchannel Heat Exchanger Market, By End - Use
8.6. North America Microchannel Heat Exchanger Market Size By Countries
8.6.1. United States
8.6.2. Canada
9. Global Microchannel Heat Exchanger Market- Europe
9.1. Overview
9.2. Europe Microchannel Heat Exchanger Market Size (2019 - 2032) (Usd Million)
9.3. Europe Microchannel Heat Exchanger Market, By Type
9.4. Europe Microchannel Heat Exchanger Market, By Phase
9.5. Europe Microchannel Heat Exchanger Market, By End - Use
9.6. Europe Microchannel Heat Exchanger Market Size By Countries
9.6.1. Germany
9.6.2. Uk
9.6.3. France
9.6.4. Spain
9.6.5. Italy
9.6.6. Rest Of Europe
10. Global Microchannel Heat Exchanger Market - Asia Pacific
10.1. Overview
10.2. Asia Pacific Microchannel Heat Exchanger Market Size (2019 - 2032) (Usd Million)
10.3. Asia Pacific Microchannel Heat Exchanger Market, By Type
10.4. Asia Pacific Microchannel Heat Exchanger Market, By Phase
10.5. Asia Pacific Microchannel Heat Exchanger Market, By End - Use
10.6. Asia Pacific Microchannel Heat Exchanger Market Size By Countries
10.6.1. China
10.6.2. Japan
10.6.3. India
10.6.4. Rest Of Asia Pacific
11. Global Microchannel Heat Exchanger Market- Rest Of World
11.1. Overview
11.2. Rest Of World Microchannel Heat Exchanger Market Size (2019 - 2032) (Usd Million)
11.3. Rest Of World Microchannel Heat Exchanger Market, By Type
11.4. Rest Of World Microchannel Heat Exchanger Market, By Phase
11.5. Rest Of World Microchannel Heat Exchanger Market, By End - Use
11.6. Rest Of World Microchannel Heat Exchanger Market Size By Regions
11.6.1. Middle East & Africa
11.6.2. Latin America
12. Global Microchannel Heat Exchanger Market- Competitive Landscape
12.1. Key Strategies Adopted By The Leading Players
12.2. Recent Developments
12.2.1. Investments & Expansions
12.2.2. New End-user Launches
12.2.3. Mergers & Acquisitions
12.2.4. Agreements, Joint Ventures, And Partnerships
13. Global Microchannel Heat Exchanger Market- Company Profiles
13.1. Kaltra
13.1.1. Company Overview
13.1.2. Financial Overview
13.1.3. Type Offered
13.1.4. Key Developments
13.2. Welcon
13.3. Shanghai Shenglin M&E Technology
13.4. Evapco
13.5. Climetel
13.6. Modine Manufacturing Company
13.7. Sanhua
13.8. Danfoss
13.9. Vacuum Process Engineering
13.10. Sumitomo Precision Products
14. Our Research Methodology
14.1. Data Triangulation
14.2. Data Sources
14.2.1. Secondary Sources
14.2.2. Primary Sources
14.3. Assumptions/ Limitations For The Study
14.4. Research & Forecasting Methodology
15. Appendix
15.1. Disclaimer
15.2. Contact Us
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